12:24 PM EDT, 09/10/2025 (MT Newswires) -- Merck ( MRK ) has canceled plans for a 1 billion pound ($1.35 billion) research center in London and will lay off more than 100 scientific staff, citing the UK's uncompetitive environment and low medicine prices, the Financial Times reported Wednesday.

Merck ( MRK ) will transfer the research activities to existing sites, primarily in the US, the report said.

"The UK is not internationally competitive," Merck ( MRK ) said, according to the report. "Unless a change is made to the operating environment, the undervaluation is corrected, and the investment is put back in the right places, more and more companies will be making these sorts of decisions."

Merck ( MRK ) didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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